Which New Tech Can Increase the Resale Value of Your Home?

by Mac Chinsomboon 11/19/2019

New technologies are constantly being produced that are designed to make our lives easier. Technology around the home is no different.

America recently underwent a boom in residential solar power, a trend that doesn’t look like it will be slowing down anytime soon. And, big tech companies like Google and Amazon are trying to nudge their way into the smart home technology sector with devices like the Amazon Echo and Google Home.

Many of these tools and technologies are great for convenience around the house. Amazon Dash buttons let you reorder common household goods like paper towels and laundry detergent with the touch of a button in your pantry when you run low.

However, some forward-thinking homeowners are looking towards home improvements that can increase the resale value of their home by making it more desirable to potential buyers.

In today’s post, we’re talking about the latest tech that homeowners are buying to give their home an edge over the competitors in the real estate market.

Read on to find out which technologies can make a difference and which ones will soon be obsolete.

Smart home technology

Our phones have gradually become all-encompassing devices that help us organize our lives, and smart home tech companies hope to do the same thing with your home.

There is no shortage of competition for access to your home in the form of remotely controlled lighting, sprinklers, HVAC, and more.

And, while some state of the art systems might attract potential buyers, it’s important to remember that smart home tech is a fledgling industry.

That means that the tech is constantly evolving and might not be relevant or useful to potential buyers when it comes time to sell your home. (It would be like trying to sell an iPhone that is 4 generations too old for anyone to want it anymore.)

Home security

While home security technology is still rapidly changing, there is a benefit to having a system installed that can help woo potential buyers who are concerned about the safety of their family.

Aside from safety, this tech can also be just plain convenient and time-saving. Smart door locks can sync with your smartphone to unlock when you arrive at your home and lock when you leave, shaving a few seconds off of your daily routine.

Solar panels

One benefit of installing solar panels on your roof is that you can then show potential buyers physical evidence of the amount of money they can save each month on their utility bills.

However, it should be noted that there are some exciting new residential solar solutions coming to the market in the near future--one example being Tesla’s solar roof that looks almost exactly like a regular roof but generates electricity for your home.

So, when considering new technology for your home to boost its resale value on the market, remember that technologies are still changing. Keep your timeline for sale in mind, and try to avoid tech that will be obsolete before you plan on putting your home for sale.

About the Author

Mac Chinsomboon

I'm your typical MIT-trained intellectual - but I also happen to be a top producing real estate broker that has a proven track record of results for my many clients that continue to refer their friends and family. I started in the business as a real estate investor myself. Having the mindset of an investor helps me understand the viewpoint of my clients as home owners, investors, and developers. My engineering background is what I use to determine what works and how to build what works - it's an ethos I live by. Along with my finance and legal backgrounds, they help me balance efficiency, reliable outcomes, return on investment, value, performance, and all with a calculated margin of safety to fully protect those around me.

I've closed hundreds of purchase and sale transactions over the past several years - everything from the lows, to the peaks of the market, and the rebound that we're currently in. This means that I've experienced just about every issue that one could ever expect in a transaction - and how to head it off before it becomes a real or bigger issue. Of course, as with Life, issues will "evolve", and my goals are to try to discover them as best and early as possible, to protect both my buyers and sellers - don't get me wrong, there will still be bumps along the road, but my goal is mitigate and minimize them for you.

Massachusetts Institute of Technology (MIT Sloan), MBA - Finance

University of Colorado - BS Electrical Engineering

Concord Law School, Juris Doctor

Massachusetts Real Estate Brokers License

National Association of Realtors

Massachusetts Association of Realtors

Boston Association of Realtors

Education BIO:

Mac has degrees in Electrical Engineering from the University of Colorado, MBA/Finance from the Massachusetts Institute of Technology (MIT), and Juris Doctor/Intellectual Property from Concord Law School. Mac has worked for Accenture as a management consultant, UBS in London as an M&A investment banker, and Young Presidents’ Organization in strategic planning. Mac is now deeply involved in the Boston real estate market as broker and investor. Mac has investments in equities, real estate, currencies (fiat and digital), and VC funds. Mac has lived in the US, Europe, Asia, and currently resides in Boston, MA.